ADNOC Gas to pay $3.41bn dividend
It includes $1.7 billion scheduled for distribution in Q2 2025.
Business
Chevron to acquire Hess
Business
Invest AD to launch debt fund
Business
Nedaa, Dubai Customs ink MoU
Business
Dar Alarkan 2024 profit up 32%
The company's net profit increased by 81.5 percent in Q4 2024.
Business
DP World, TPA ink pact
Business
New CEO appointed in SRC
Business
Mobily 9M 2023 profit up 41%
Business
EasyLease Q3 revenue $57.66m
Business
Business
SAFEEN Feeders, Invictus sign deal
They will launch a new international dry bulk shipping service.
- Under the terms of the agreement, the two companies will purchase ships through Special Purpose Vehicles, owned 85 percent by SAFEEN Feeders and 15 percent by Invictus Investment.
- The two companies are expected to initially commit approximately AED463 million (US$126 million) for the investment in the vessels.
Business
TotalEnergies, Qatar ink pact
TotalEnergies to invest $1.5bn in natural gas production.
- Qatar Energy and TotalEnergies as partners will together work for the development of the North Field South gas project.
- TotalEnergies will have 9.3 percent of the North Field South project, Qatar Energy Minister said, for which 25 percent will be reserved for foreign energy firms.
Business
Borouge to pay dividend of $325m
This is the first payment of the total $975m dividend for 2022.
- The interim dividend payment reflects Borouge's strong financial performance in H1 2022 and its outlook for the remainder of 2022, the company said.
- In the first half of 2022, Borouge reported a 16.4 percent increase in revenue to $3.5 billion (AED12.7 billion) versus the same period last year.
Business
Dana Gas to pay $85m H1 dividend
The dividend of 4.5 fils per share will be paid by 21 Oct.
- The company posted a net profit of $111 million in the first six months of the year, an 82 percent increase compared to an adjusted net profit in H1 2021.
- The company’s profitability in the first half of 2022 was driven by elevated hydrocarbon prices,
Business
Xiamen Airlines to buy aircraft
The airline plans to buy 40 A320neo aircraft from Airbus.
- The airline, based in the southeastern city of Xiamen has until now had exclusively Boeing aircraft in its fleet.
- While weakened by the pandemic, airlines around the world are preparing for an expected doubling of air travel in the next two decades.
Business
Yahsat to pay $53.5m H1 dividend
The dividend will be paid by 14 Oct to all shareholders.
- The Group said it is on track to deliver a total dividend of at least AED393.3 million for the full 2022 financial year.
- The second and final dividend for 2022 is expected to be paid in April 2023.
Business
DEWA, Desolenator ink pact
Dutch firm will provide water desalination technology
- The innovative design is intended to be 100 percent reliant on solar energy.
- As per the agreement, a pilot water desalination plant has been installed at the Jebel Ali Power Plant and Desalination Complex.
Business
IHC acquires stake in Burjeel
The 15% stake in Burjeel will diversify healthcare investment.
- IHC’s revenue grew by 121 per cent to AED21.93 billion in the first six months of 2022, compared to the same period last year.
- The company invested AED7.3bn ($2bn) in the Indian conglomerate, Adani Group, and also acquired a 70 per cent stake in Arena, the global event structures and services company.
Business
Salik ups number of IPO shares
The subscription period for the IPO remains unchanged.
- The Government of Dubai will continue to own 75.1 percent of Salik’s existing share capital.
- Salik reported core earnings of $217.82 million in the first half of this year, compared with 637.41 million in the same period in 2021.
Business
Response Plus enters Indian market
The company will establish its Indian headquarters in Kerala state.
- RPM India will work as a healthcare partner for onsite medical service solutions with oil and gas companies and other major industries.
- It will provide services to Airports, Seaports, Educational Institutions, malls and global events to meet the emergency healthcare needs.
ADNOC Gas to pay $3.41bn dividend
It includes $1.7 billion scheduled for distribution in Q2 2025.
Business
Company News
Qatar Airways’ CEO to quit
Business
Chevron to acquire Hess
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Invest AD to launch debt fund
Business
Nedaa, Dubai Customs ink MoU
Business
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Yansab 9M net loss $134 million
Business
DP World, TPA ink pact
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New CEO appointed in SRC
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Mobily 9M 2023 profit up 41%
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Presight AI, Samruk-Kazyna launch JV
The partnership aims to accelerate digital transformation in Kazakhstan.
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Business
Eve Air Mobility, flynas ink MoU
The firms will explore starting eVTOL services in Saudi Arabia.
- The agreement will contribute to Saudi Arabia’s aviation industry by building the ecosystem for electric flights.
- flynas operates over 1,500 weekly flights to over 70 domestic and international destinations.
Amazon releases AI chatbot
"Q" will be available only to the company's AWS cloud.
- "Q" will be available only to Amazon's AWS cloud computing customers and will be in direct competition with ChatGPT as well as Google's Bard and Microsoft's copilots
- Costing $20 monthly per user, Amazon Q will perform a variety of tasks including summarizing uploaded documents and answering questions about specific data
Business
Foxconn to invest $1.54bn more in India
The firm announced in May to purchase land for $37 million in India.
- Chairman Young Liu had said during an earnings call in August that the company saw the potential to invest "several billion dollars" in India
- The company is planning to expand its India operations to "critical components" for consumer electronics and electric vehicles to boost its competitiveness